NEW YORK – July 19, 2017 – Funds managed by Gamut Capital Management, L.P. (“Gamut”), a New York-based middle market private equity firm, announced that they have signed a definitive agreement to acquire JPW Industries, Inc. and its global affiliates (“JPW”), a leading manufacturer, designer and distributor of a wide range of machinery and equipment under the JET®, Powermatic®, Wilton®, Edwards® and Promac® brands, from Tenex Capital Management.

Headquartered in La Vergne, Tennessee and founded in 1958, JPW’s branded specialty shop tools and equipment serves a broad range of applications and end markets. JPW products include metalworking and woodworking machinery, vises and clamps, ironworkers, lifting systems, air and hand tools and related parts and accessories. JPW operates in six countries on three continents and has more than 270 employees worldwide.

Stan Parker, Founding Partner of Gamut, said, “JPW has set the standard for quality, reliability, innovation and service across a broad range of applications and end users. We are delighted to partner with JPW and its strong management team to accelerate its development.”

Robert Romano, Chief Executive Officer at JPW, said, “We have enjoyed our partnership with Tenex and deeply value their strategic input and guidance. As we enter our next phase, we are excited to have the support of Gamut and look forward to leveraging their experience and resources as we continue to grow.”

Mr. Romano will remain with the company as CEO and will serve on the Board of Directors. At the close of the transaction, which is expected by the third quarter of this year, Stephen Van Oss, a Gamut Operating Partner, will join JPW’s Board of Directors as Non-Executive Chairman. Terms of the transaction were not disclosed.

Gamut Capital Management is a New York-based private investment firm managing $1 billion in assets focused on the middle market. Gamut was founded in 2015 by Stan Parker and Jordan Zaken who have over 35 years of combined private equity investing experience across a wide range of industries, in a broad spectrum of traditional and non-traditional private equity structures, and throughout economic cycles. Gamut’s senior deal professionals have executed investments in over 30 companies in North America and Europe. To learn more, please visit www.gamutcapital.com.

About JPW Industries

Headquartered in La Vergne, Tennessee, JPW Industries, Inc. designs and markets a wide range of machinery and equipment under the JET®, Wilton®, Powermatic®, Edwards® and Promac® brands. In addition to its North American headquarters, the company has operations in Europe and Asia. It sells through a vast network of distributor partners worldwide. Visit JPW at www.jpwindustries.com.